Australia is experiencing an epic renovations boom

With Australians precluded from travelling, working from home, and sitting on a mountain of savings, many households are choosing to spend their money on renovating their homes.

The evidence came yesterday in the form of the ABS’ housing finance data, which showed renovation loans rose by 7.4% to a record (19-year) high of $486.8 million:

Renovation loans

Renovation lending booming.

Anecdotally, I know several tradies and all are run off their feet.

Unconventional Economist
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